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The Silver American Eagle
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American Silver Eagle

The Silver American Eagle

The Silver American Eagle

The official silver bullion coin of the United States of America is the American Silver Eagle. The U. S. Mint guarantees the coin is .999 pure silver. Its weight is one troy ounce, a measure used for coins and precious metals, was authorized by the U. S. Congress as the official weight standard for coins in 1928. The troy ounce is equal to 31.1034768 grams.

The U. S. Mint first issued the American Silver Eagle on November 24, 1986. President Ronald Reagan requested the silver coins be issued from the U. S. defense national stockpile as a way to pay down some of the national debt in 1981. Earlier presidents tried to sell off some of the defense national stockpile on the basis that U. S. silver production far exceeds the strategic needs.

Idaho and other mining states congressional representatives resisted the proposal fearing the release of silver from the stockpile would lower its value. Every time the U. S. government advocated the sale of silver there was a prompt drop in price. The Wall Street Journal attributed this drop to silver futures investors selling off their contracts in anticipation of an increase in the supply of silver.

The American Silver Eagle bullion coin is stamped at the West Point (NY) Mint and have been since 1999. San Francisco was the first mint to make the Silver Eagle bullion coins. San Francisco issued the coins from 1986 until 1998. There are preparations under way now for San Francisco to mint the coins again. The coins were minted in Philadelphia and West Point from 1999 and 2000.

Ever since these silver eagle coins were first issued, demand has been very high for them. The first release in 1986 sold out faster than expected. Many people buy silver coins as a hedge against inflation, especially when the price of silver drops.

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